(Alliance News) - On Wednesday, Piazza Affari continued its bullish trend, finishing in surplus for the third consecutive session and bringing the points plateau to the 28,200 area, in line with other European exchanges.

Trading rooms are now pointing their spotlights on the Jackson Hole symposium starting as early as Thursday, where European Central Bank President Christine Lagarde and Federal Reserve Chairman Jerome Powell are expected to provide likely insights into the interest rate outlook of their respective central banks of competence.

In the CME Group platform's FedWatch Tool, using futures also based on the actual federal funds rate, or EFFR, the rate confirmation at the Sept. 20 meeting has an 87 percent probability for the 525/550 bps range confirmation. In contrast, the 25 bps rise in the 550/575 bps target is priced at 13%.

Meanwhile, the decline in total Eurosystem assets continues, as disclosed by Frankfurt as usual this week. Total Eurotower assets thus amount to EUR7.153 billion, a decline of about EUR13.4 billion from the previous week.

Thus, the FTSE Mib closed up 0.2 percent to 28,233.80, the Mid-Cap gave up 0.2 percent to 41,176.47, the Small-Cap closed in the green by 0.3 percent to 26,852.33 while Italy Growth gained 0.1 percent to 8,836.50.

In Europe, Paris' CAC 40 closed up 0.1 percent, Frankfurt's DAX rose 0.2 percent while London's FTSE 100 finished in the green by 0.7 percent.

On the blue chip list, ERG did best of all with a 3.5 percent rise-after a 0.3 percent loss in the previous session-holding the lead since the bell rang.

Good buys also on Snam, which raised the bar by 2.3 percent, after a 0.6 percent decline on the eve.

Buying prevails, among latri, also for Hera, which advances with 2.6 percent and new price at EUR2.70 after 1.0 percent up on eve.

Terna, on the other hand, advances 2.2 percent to EUR7.42, on the heels of its 0.6 percent profit on the eve. The company reported Tuesday that electricity demand in Italy totaled 30.1 billion kWh in July, registering a 3.3% decrease compared to the same period in 2022. In July, 85.6 percent of Italy's electricity demand was met by domestic production and the remaining 14.4 percent by the balance of energy traded with foreign countries. Net domestic production was 25.9 billion kWh, down 2.7 percent from July 2022.

On a negative note, among the few bearish performers, Tenaris declined 1.0 percent, echoing the 0.9 percent loss the night before.

Doing worse was Unipol, which sat at the bottom, giving up 4.1% with price at EUR4.99, after two sessions ended among the bullish.

Also in the minority of the bearers was Monte dei Paschi, which gave up 2.3 percent in the wake of eve's red with 0.6 percent.

On the Mid-Cap, Alerion advanced well, moving ahead 3.7 percent after eve's 0.8 percent green.

Iren, on the other hand, moved ahead 2.9 percent after eve's 0.8 percent red.

Leading group also for Caltagirone, which rallied 2.1% green after two bearish sessions.

Technogym contracted 2.7% to EUR7.74, replicating the eve's red albeit with a more contained 0.1%.

Brunello Cucinelli, on the other hand, gave up 2.0%, for the fifth time in a row in a bearish version, when it is about a week away from the publication of its half-year report.

On the Small-Cap, the star performer was Giglio.Group, which advanced 7.8%, after a 1.0% gain in the previous session.

FILA, on the other hand, advanced 4.1 percent, after a 1.0 percent decline on the eve.

Bialetti rose 2.9%, rearing its head after two bearish sessions.

At the tail end, Netweek advanced 1.5% after three bearish sessions.

In contrast, Eurotech gave up 5.4 percent, veering downward after two bullish sessions.

Among SMEs, Giglio.Com posted a plus 7.0% to EUR2.36 after two sessions on the downside.

Farmacosmo, on the other hand, picked up 5.6%, after the previous two sessions ended on the losing side.

Innovatec gave up 2.7%. On the stock, it is mentioned that Modefinance, an Italian rating agency registered with ESMA, confirmed the public 'B1+' rating to the creditworthiness. "This rating-equivalent, based on the current mapping, to the 'BBB+' rating of the main international rating agencies-represents a higher score than the minimum required to consider the company's issues investment grade," the company explained in a note.

At the tail end, Casasold flexes 4.3 percent, after two bullish sessions.

In New York, the Dow Jones is rising 0.4 percent, the S&P is in the green by 0.9 percent, and the Nasdaq is advancing 1.5 percent.

Among currencies, the euro changes hands at USD1.0852 versus USD1.0851 in Tuesday's European stock close while the pound is worth USD1.2706 from USD1.2737 Tuesday evening.

Among commodities, Brent crude is worth USD83.46 per barrel versus USD84.02 per barrel at Tuesday's close. Gold, on the other hand, trades at USD1,916.81 an ounce from USD1,897.87 an ounce Tuesday evening.

On Thursday's economic calendar, the day the Jackson Hole symposium will begin, at 1430 CEST, from the US, unemployment claims are expected and, at the same time, durable goods orders.

At 1730 CEST, the auction of 4- and 8-week Treasury bonds will be held while, at 1900 CEST, an auction of bonds with a maturity of 20 years is scheduled.

Among the companies in the business square, no particular announcements are expected.

By Maurizio Carta, Alliance News reporter

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